ONE ZERO Digital Bank Overview
ONE ZERO Digital Private Bank is an entirely digital independent bank with no physical branches. The bank will offer advanced services, including flexible and competitive credit solutions, alongside standard banking services such as current accounts, credit, deposits, and securities management.
Cumulative Funding Raised Over Time ($)
$120.0MDec 2021
$182.0MFeb 2023
$182.0MFeb 2024
Latest News
growth-positive
One Zero Offices - Tel Aviv | Office Snapshots
ONE ZERO Digital Private Bank, the first independent bank established in Israel in over 40 years, has collaborated with Switchup to design an innovative office space in Tel Aviv. The office features a vibrant and sophisticated environment with bright colors, plants, and wood materials, reflecting the banks digital-first approach. The design includes a central kitchen area to foster employee interaction and collaboration, aligning with ONE ZEROs commitment to a seamless digital banking experience. This new workspace symbolizes the banks dedication to innovation and excellence in the financial industry, enhancing its position as a leader in digital banking.
growth-positive
Exclusive: One Zero, the AI fintech started by the founder of MobileEye, is raising $100M, say sources
One Zero, a fintech company co-founded by Amnon Shashua, is raising at least $100 million to enhance its AI-driven retail banking services. The company, which has already raised $242 million and was valued at $320 million in 2023, aims to democratize private banking services using AI. One Zero has acquired a banking license in Israel and has around 110,000 customers. The company plans to invest in its AI chatbot, Ella, which aims to provide services beyond current banking chatbots. The company has received interest from major banks for licensing its technology.
InvestmentCustomers
growth-negative
"גם בנק גדול היה מבטל תוכניות": חלומות ההתרחבות של וואן זירו בהקפאה
The digital bank וואן זירו, controlled by Amnon Shashua, is laying off 23 out of its 350 employees. The primary reason for these layoffs is the suspension of the banks planned expansion into Italy due to the ongoing war and the associated uncertainties. Despite this setback, וואן זירו remains optimistic about its operations in Israel and estimates that it will achieve profitability within two years.
LayoffsExpand
growth-negative
One Zero lost around $170 million between 2022 and 2023 due to establishment costs as well as ongoing expenses such as salaries and marketing. The bank still expects to reach profitability by the end of 2025.
One Zero, an Israeli digital bank, has faced significant financial challenges, losing around $170 million between 2022 and 2023. The banks joint venture with Italian bank Generali to establish a digital bank in Italy has been temporarily frozen due to security concerns, casting doubt on the projects future. Despite these setbacks, One Zero continues to grow its deposit and credit portfolios, although it remains unprofitable. The bank has announced layoffs affecting 23 employees, representing 6.5% of its workforce, as part of broader cutbacks. One Zero aims to reach profitability by the end of 2025 and continues to recruit new employees. The bank has raised approximately NIS 1 billion from investors, led by Amnon Shashua.
LayoffsPartners
growth-positive
One Zero CEO: Banks should promote economic welfare
One Zero Banks CEO, Gal Bar Dea, spoke at the Globes Tech IL Conference about the role of banks in promoting the economic welfare of their customers. He suggested that banks should not only focus on capital adequacy and profitability but also on reducing the number of customers in overdraft. One Zero Bank is using AI to differentiate itself from traditional banks. The bank has developed an AI named Ella that can perform basic operations and eventually, it will be able to perform operations for the customer without human contact. Bar Dea also expressed his ambition for One Zero Bank to become a large and significant bank in the Israeli system.
CustomersInvestmentExpand
| Sector | Fintech & Insurtech |
Funding
| Total funding | $182M |
| Last funding | Undisclosed |
| Stage | Seed |
| Rounds | 3 |
| Investors | 8 |
Team Members
3
Employees: 201-500
Web & Social Links
| Website | www.onezerobank.com/en/ |
| App Store | App Store |
| Google Play | Google Play |
Locations
Aminadav St 3, Tel Aviv-Yafo, Israel
Photos & Videos
No files yet
ONE ZERO Digital Bank Business
Business models
B2C, B2B
Product stage
Released
Employees
201-500
Sector
Fintech & InsurtechPersonal Finance ManagementTarget Customer
Enterprise & Professional ServicesEnterprisesConsumersCore Technology
Platforms & InterfacesMobileTags (1)
digital-bankingGeographic Markets
ItalyIsraelONE ZERO Digital Bank Financials
$182M
Total funding
Undisclosed
Capital raised
Undisclosed
Last funding
Seed
Funding stage
3
Total rounds
8
Investors
Cumulative Funding Raised Over Time ($)
$120.0MDec 2021
$182.0MFeb 2023
$182.0MFeb 2024
Private Equity Funding
SAFE
Feb 2024
Undisclosed
OurCrowd
Undisclosed Round
Feb 2023
$62M
Hachshara Insurance Company, OurCrowd, SBI JI Innovation Fund, Tencent, West Coast Equity Partners, Julius Baer, Amnon Shashua
Undisclosed Round
Dec 2021
$120M
OurCrowd, Alora Ventures
ONE ZERO Digital Bank Lifecycle
Cumulative Funding Raised Over Time
$120.0MDec 2021
$182.0MFeb 2023
$182.0MFeb 2024
All Events
SAFE
Feb 2024
Undisclosed
OurCrowd
Undisclosed Round
Feb 2023
$62M
Hachshara Insurance Company, OurCrowd, SBI JI Innovation Fund, Tencent, West Coast Equity Partners, Julius Baer, Amnon Shashua
Undisclosed Round
Dec 2021
$120M
OurCrowd, Alora Ventures
ONE ZERO Digital Bank News
11 articles
growth-positive
One Zero Offices - Tel Aviv | Office Snapshots
ONE ZERO Digital Private Bank, the first independent bank established in Israel in over 40 years, has collaborated with Switchup to design an innovative office space in Tel Aviv. The office features a vibrant and sophisticated environment with bright colors, plants, and wood materials, reflecting the banks digital-first approach. The design includes a central kitchen area to foster employee interaction and collaboration, aligning with ONE ZEROs commitment to a seamless digital banking experience. This new workspace symbolizes the banks dedication to innovation and excellence in the financial industry, enhancing its position as a leader in digital banking.
growth-positive
Exclusive: One Zero, the AI fintech started by the founder of MobileEye, is raising $100M, say sources
One Zero, a fintech company co-founded by Amnon Shashua, is raising at least $100 million to enhance its AI-driven retail banking services. The company, which has already raised $242 million and was valued at $320 million in 2023, aims to democratize private banking services using AI. One Zero has acquired a banking license in Israel and has around 110,000 customers. The company plans to invest in its AI chatbot, Ella, which aims to provide services beyond current banking chatbots. The company has received interest from major banks for licensing its technology.
InvestmentCustomers
growth-negative
"גם בנק גדול היה מבטל תוכניות": חלומות ההתרחבות של וואן זירו בהקפאה
The digital bank וואן זירו, controlled by Amnon Shashua, is laying off 23 out of its 350 employees. The primary reason for these layoffs is the suspension of the banks planned expansion into Italy due to the ongoing war and the associated uncertainties. Despite this setback, וואן זירו remains optimistic about its operations in Israel and estimates that it will achieve profitability within two years.
LayoffsExpand
growth-negative
One Zero lost around $170 million between 2022 and 2023 due to establishment costs as well as ongoing expenses such as salaries and marketing. The bank still expects to reach profitability by the end of 2025.
One Zero, an Israeli digital bank, has faced significant financial challenges, losing around $170 million between 2022 and 2023. The banks joint venture with Italian bank Generali to establish a digital bank in Italy has been temporarily frozen due to security concerns, casting doubt on the projects future. Despite these setbacks, One Zero continues to grow its deposit and credit portfolios, although it remains unprofitable. The bank has announced layoffs affecting 23 employees, representing 6.5% of its workforce, as part of broader cutbacks. One Zero aims to reach profitability by the end of 2025 and continues to recruit new employees. The bank has raised approximately NIS 1 billion from investors, led by Amnon Shashua.
LayoffsPartners
growth-positive
One Zero CEO: Banks should promote economic welfare
One Zero Banks CEO, Gal Bar Dea, spoke at the Globes Tech IL Conference about the role of banks in promoting the economic welfare of their customers. He suggested that banks should not only focus on capital adequacy and profitability but also on reducing the number of customers in overdraft. One Zero Bank is using AI to differentiate itself from traditional banks. The bank has developed an AI named Ella that can perform basic operations and eventually, it will be able to perform operations for the customer without human contact. Bar Dea also expressed his ambition for One Zero Bank to become a large and significant bank in the Israeli system.
CustomersInvestmentExpand
growth-positive
One Zero to launch digital bank in Italy with Generali; replacing CEO, cutting over 30 jobs in process | CTech
Digital bank One Zero, controlled by Prof. Amnon Shashua, is expanding its operations to Italy in partnership with Italian bank Generali. The banks current CEO, Gal Bar Dea, will oversee the international expansion. The bank also plans to streamline its operations in Israel, which includes layoffs of 30-40 employees. One Zero is investing $40-50 million in the Italian expansion, which is expected to start in mid-2024. The bank has received investments totaling $200 million so far and claims 86,000 customers.
CustomersPartnersInvestmentLayoffsExpand
growth-positive
One Zero to raise $100m led by Deutsche Bank
Israeli digital bank One Zero is seeking to raise $75-100 million in a private placement, targeting a higher valuation than the $320 million from its most recent financing round. The bank is making presentations to overseas investors, with Deutsche Bank expected to lead the round. One Zero aims to achieve profitability by Q4 2024, with 75% of the funds from the current round to be used for operations in Israel and the rest for planned operations in Europe, starting with Italy in 2025. The bank currently has over 80,000 customers in Israel and aims to reach 250,000 customers to become profitable.
InvestmentExpand
growth-positive
Israeli digital bank One Zero targets Italy
One Zero, an Israeli digital bank, plans to expand its activities outside of Israel and apply for a license in Italy by the end of 2023. The company aims to become the first pure play pan-European digital private bank for the mass affluent. One Zero has acquired 60,000 customers since its launch in Israel and plans to reach 2,000 clients per relationship manager by the end of the year. The company also intends to deploy an AI chatbot to handle customer questions and free up bankers time. One Zero was valued at $385 million when it raised $250 million in February. The founder, Amnon Shashua, expressed interest in technology rather than M&A.
CustomersExpand
growth-positive
One Zero digital bank reports $380m valuation
Israels One Zero digital bank ended 2022 with over 50,000 customers and NIS 1.2 billion in deposit and current accounts. The bank has raised about NIS 791 million ($245 million) and has a company valuation of NIS 1.39 billion ($380 million). It plans to raise additional capital to strengthen its position in the Israeli market and expand into Europe. One Zero aims to be profitable in a few years and offers AI technology to provide customers with unique services and products.
CustomersInvestment
growth-positive
ViewTrade Chosen By Israel's ONE ZERO Digital Bank as Technology Partner for Securities Trading Platform
ViewTrade has been chosen by ONE ZERO Digital Bank as the broker and technology partner for its new securities trading platform, allowing Israeli investors seamless access to US markets. The addition of ONE ZERO to its roster of clients reflects the significant growth ViewTrade has experienced in recent years. ONE ZERO will utilize ViewTrades API and FIX connection to power trading on its app, expanding from banking services to independent trading on US stock exchanges. The new platform offers competitive prices, real-time AI-generated insights, and updates about investment portfolios. ViewTrade is excited about the partnership and looks forward to helping ONE ZERO as it continues to expand.
PartnersCustomers
growth-positive
Digital bank One Zero raises another $62 million at $320 million valuation | CTech
Israeli digital bank One Zero is closing a new funding round for $62 million, with existing investors participating. The funding round is part of the banks preparations to expand into Europe and potentially go public. The bank has raised a total of $250 million since its founding in 2019. The current round was made at a $320 million valuation, and the bank plans to embark on a larger funding round at a higher valuation in the future. One Zero manages over 45,000 accounts and has provided around $29 million of credit to date. It expects to end the year with revenue of around $60 million. The bank will face competition from another digital bank named Esh, which recently raised $29 million at a valuation of over $500 million.
InvestmentExpand
ONE ZERO Digital Bank Team
Employee Info
| Employees (range) | 201-500 |
| Exact count | 331 |
| Team members | 3 |
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ONE ZERO Digital Bank Internal
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Admin Info
| Confidence | 85/100 |
| Missing | tags, video or image, markets, not claimed |
| BI Verification | Jenny Sotnik-Talisman |
| Registrar ID | 515981728 |
| Crunchbase | one-zero-digital-bank |
| Creator | Maor Perlov |
| Creator email | maor.perlov@sncentral.org |
| Last updater | Jenny Sotnik-Talisman |
| Updater email | jenny.sotnik@sncentral.org |
| Last update | 2023-03-30T00:00:00.000Z |
| Created | 2022-12-21T00:00:00.000Z |